PPI Original Text (PPI-OT) – Pak Rupee continues to weaken – Alfalah Securities Limited

Karachi, May 31, 2012 (PPI-OT): Pakistan Rupee has further weakened against US dollar on May 30, 2012 falling by 60 – 70 paisa’s during the day to close at PkRs 93.50 in the interbank market.

According to Alfalah Securities Limited, the risks on the external front are rising as the State Bank reserves are depleting at a faster pace to fund the imports and debt obligations. The situation is of grave concerns since, despite the steep decline in Pak Rupee, the exports have failed to pick up and the current account deficit continues to widen.